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    Ukraine’s Naftogaz Transfers $1.45 Bln as Part of Gas Debt to Russia

    © RIA Novosti . Sergey Starostenko
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    Russia-Ukraine Gas Conflict (292)
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    Press service of Ukraine’s energy company Naftogaz confirmed Tuesday the transfer of the first tranche of $1.45 billion to cover part of its gas debt to Russia.

    MOSCOW, November 4 (RIA Novosti) — Ukraine’s energy company Naftogaz has transferred the first tranche of $1.45 billion to cover part of its gas debt to Russia, company’s press service confirmed on Tuesday.

    “Ukraine’s Naftogaz has transferred $1.45 billion to Gazprom to pay for the previously supplied and unpaid volumes of gas. According to the agreements reached in Brussels, Naftogaz will transfer a total of $3.1 billion to pay for 11.5 billion cubic meters of gas, delivered by Gazprom in November-December 2013 and April-May 2014,” a statement on official Naftogaz’ website said.

    Last week, the final round of gas talks between Russia and Ukraine, brokered by the European Union, finished with the signing of a so-called "winter package" agreement securing gas supplies to Ukraine until March.

    The agreement stipulates that Russia resumes gas supplies to Ukraine following a three-month break in deliveries caused by Kiev's massive gas debt in excess of $5 billion. Moscow also agreed to grant Kiev a $100 discount on the price it pays per 1,000 cubic meters of gas, while Kiev assured it would pay $3.1 billion to cover part of its debt to Russia's energy giant Gazprom by the end of 2014.

    Russia-Ukraine Gas Conflict (292)


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